Recently, a unique 172-square-meter bi-level HDB apartment in Bukit Timah, Singapore, sold for a historic resale price of $1.45 million, making it the center of attention in the region and among similar HDB apartments.
This distinctive property is not only scarce in number but also highly sought after for its unobstructed views, excellent location, and comprehensive amenities.
Furthermore, the Yiren Court project in Bukit Timah saw two five-room units sold for over a million dollars each last month.
According to real estate agents, this bi-level HDB apartment is the first property in Bukit Timah to be sold for over a million dollars and also has the highest resale price among all HDB apartment types.
Previously, a bi-level unit in Bukit Timah set a sales record for similar HDB apartments at $1.3 million in December of the previous year. Compared to that record, the selling price of this unit in Bukit Timah has increased by $150,000.
Bi-level HDB apartments have become scarce in the market due to the government's cessation of construction in the 1990s, making them a worthwhile investment with appreciation potential.
Additionally, this apartment benefits from its excellent views, proximity to parks, convenient facilities such as supermarkets and cafes nearby, and easy access to transportation. It enjoys a high reputation among homebuyers, leading to the high selling price.
While the Singaporean real estate market is cooling down overall, there are still opportunities for appreciation for those who choose scarce properties or boutique property types in prime locations.
Therefore, potential scarce properties and properties with unique features remain the ideal choices for homebuyers and are expected to have good appreciation potential in the future.
In addition to being the highest resale price in Bukit Timah, it is also the third-highest resale price for an HDB apartment nationwide. Currently, the highest resale price in the country is for a four-room HDB unit (176 square meters) in Choa Chu Kang, priced at $1.5 million. The second highest is a five-room unit in Tampines, priced at $1.48 million.
